Required information The following information applies to the questions displayed below) Tina The following transactions pertain to Smith Training Company for Year t 30 Established the business when it acquired Jan. $46,000 cash from the issue of common stock. 1 Paid rent for office space for two years, $33,000 cash. Feb. Ar. 10 Purchased $900 of supplies on account. July 1 Received $28,500 cash in advance for services to be provided over the next year. Dec. 20 Paid $675 of the accounts payable from April 10. 15 Billed a customer 59,000 for services provided during August. 15 Completed a job and received $3,500 cash for services rendered. Sept. oct. 1 Paid employee salaries of $30,500 cash. 15 Received $8,400 cash from accounts receivable. 16 Billed customers $34,500 for services rendered on account. Nov 1 Paid a dividend of $1,400 cash to the stockholders. 31 Adjusted records to recognize the services provided on the contract of July 1. 31 Recorded $2,400 of accrued salaries as of December 31. 31 Recorded the rent expense for the year. (See February 1.) 31 Physically counted supplies: $100 was on hand at the end of the period. c. Prepare a trial balance. SMITH TRAINING COMPANY Trial Balance December 31, Year Account Titles Debit Cind
Required information The following information applies to the questions displayed below) Tina The following transactions pertain to Smith Training Company for Year t 30 Established the business when it acquired Jan. $46,000 cash from the issue of common stock. 1 Paid rent for office space for two years, $33,000 cash. Feb. Ar. 10 Purchased $900 of supplies on account. July 1 Received $28,500 cash in advance for services to be provided over the next year. Dec. 20 Paid $675 of the accounts payable from April 10. 15 Billed a customer 59,000 for services provided during August. 15 Completed a job and received $3,500 cash for services rendered. Sept. oct. 1 Paid employee salaries of $30,500 cash. 15 Received $8,400 cash from accounts receivable. 16 Billed customers $34,500 for services rendered on account. Nov 1 Paid a dividend of $1,400 cash to the stockholders. 31 Adjusted records to recognize the services provided on the contract of July 1. 31 Recorded $2,400 of accrued salaries as of December 31. 31 Recorded the rent expense for the year. (See February 1.) 31 Physically counted supplies: $100 was on hand at the end of the period. c. Prepare a trial balance. SMITH TRAINING COMPANY Trial Balance December 31, Year Account Titles Debit Cind
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Topic Video
Question
![Required information
[The following information applies to the questions displayed
below]
Total
The following transactions pertain to Smith Training Company for
Year t
Jan.
30 Established the business when it acquired
$46,000 cash from the issue of common stock.
1 Paid rent for office space for two years,
$33,000 cash.
Feb.
Ar. 10 Purchased $900 of supplies on account.
July
1 Received $28.500 cash in advance for services to
be provided over the next year.
20 Paid $675 of the accounts payable from April 10.
15 Billed a customer 59,eee for services provided
during August.
Aug.
15 Completed a job and received $3,500 cash for
services rendered.
Sept.
Oct. 1 Paid employee salaries of $38,500 cash.
15 Received $8,400 cash from accounts receivable.
16 Billed customers $34,500 for services rendered
Dec.
on account.
1 Paid a dividend of $1,400 cash to the
stockholders.
31 Adjusted records to recognize the services
provided on the contract of July 1.
31 Recorded $2,400 of accrued salaries as of
December 31.
31 Recorded the rent expense for the year. (See
February 1.)
31 Physically counted supplies; $100 was on hand at
the end of the period.
c. Prepare a trial balance.
SMITH TRAINING COMPANY
Trial Balance
December 21, Year 1
Debit
Account Titles
Credit
0$](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fd9300f8a-c214-46e1-be0e-7a9d15da4fa0%2Ffdbb38af-d856-4310-b9c0-b85e2ec73ceb%2Fersbc7_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Required information
[The following information applies to the questions displayed
below]
Total
The following transactions pertain to Smith Training Company for
Year t
Jan.
30 Established the business when it acquired
$46,000 cash from the issue of common stock.
1 Paid rent for office space for two years,
$33,000 cash.
Feb.
Ar. 10 Purchased $900 of supplies on account.
July
1 Received $28.500 cash in advance for services to
be provided over the next year.
20 Paid $675 of the accounts payable from April 10.
15 Billed a customer 59,eee for services provided
during August.
Aug.
15 Completed a job and received $3,500 cash for
services rendered.
Sept.
Oct. 1 Paid employee salaries of $38,500 cash.
15 Received $8,400 cash from accounts receivable.
16 Billed customers $34,500 for services rendered
Dec.
on account.
1 Paid a dividend of $1,400 cash to the
stockholders.
31 Adjusted records to recognize the services
provided on the contract of July 1.
31 Recorded $2,400 of accrued salaries as of
December 31.
31 Recorded the rent expense for the year. (See
February 1.)
31 Physically counted supplies; $100 was on hand at
the end of the period.
c. Prepare a trial balance.
SMITH TRAINING COMPANY
Trial Balance
December 21, Year 1
Debit
Account Titles
Credit
0$
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 4 steps
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education